Vanguard Group Inc. Acquires 45,792 Shares of Alphatec Holdings, Inc. $ATEC

Key Points

• Vanguard Group Inc. has increased its holdings in Alphatec Holdings, Inc. by 0.8% during the first quarter, now owning about 4.12% of the company, valued at approximately $60.99 million.
• Alphatec stock recently traded up 1.3% to $16.05, with a market cap of $2.38 billion and a reported revenue of $185.54 million for its last quarter, representing a 27.5% year-over-year growth.
• Recent research reports have set new price targets for Alphatec, with Barclays reaffirming an “overweight” rating and raising its price objective to $22.00, while the average price target among analysts stands at $18.50.

Vanguard Group Inc. grew its holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 0.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,014,772 shares of the medical technology company's stock after purchasing an additional 45,792 shares during the period. Vanguard Group Inc. owned approximately 4.12% of Alphatec worth $60,990,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Alphatec by 301.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 59,987 shares of the medical technology company's stock valued at $608,000 after acquiring an additional 45,027 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Alphatec by 38,433.3% during the 1st quarter. GAMMA Investing LLC now owns 2,312 shares of the medical technology company's stock valued at $228,000 after acquiring an additional 2,306 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Alphatec by 28.3% during the 1st quarter. SG Americas Securities LLC now owns 56,927 shares of the medical technology company's stock valued at $577,000 after acquiring an additional 12,553 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Alphatec by 13.4% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 13,144 shares of the medical technology company's stock valued at $133,000 after acquiring an additional 1,552 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Alphatec by 6.9% during the 1st quarter. Rhumbline Advisers now owns 148,749 shares of the medical technology company's stock valued at $1,508,000 after acquiring an additional 9,661 shares in the last quarter. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Barclays restated an "overweight" rating and set a $22.00 price target (up from $21.00) on shares of Alphatec in a report on Monday, August 4th. Lake Street Capital upgraded shares of Alphatec to a "buy" rating and set a $18.00 price target on the stock in a report on Monday, June 16th. Wall Street Zen upgraded shares of Alphatec from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Piper Sandler restated an "overweight" rating and set a $15.00 price target (up previously from $13.00) on shares of Alphatec in a report on Friday, May 2nd. Finally, Canaccord Genuity Group restated a "buy" rating and set a $20.00 price target on shares of Alphatec in a report on Friday, August 1st. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $18.50.

Insider Activity

In other news, COO Scott Lish sold 36,081 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $12.53, for a total transaction of $452,094.93. Following the completion of the transaction, the chief operating officer directly owned 708,855 shares of the company's stock, valued at approximately $8,881,953.15. This trade represents a 4.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Craig E. Hunsaker sold 186,122 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $12.34, for a total transaction of $2,296,745.48. Following the transaction, the executive vice president directly owned 1,463,896 shares of the company's stock, valued at $18,064,476.64. The trade was a 11.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 410,247 shares of company stock worth $5,376,804. 20.90% of the stock is currently owned by corporate insiders.

Alphatec Stock Performance

Shares of NASDAQ ATEC traded down $0.13 during trading hours on Friday, hitting $15.90. 1,651,222 shares of the stock were exchanged, compared to its average volume of 3,265,962. The company has a debt-to-equity ratio of 23.22, a current ratio of 2.88 and a quick ratio of 1.77. The company's 50 day moving average is $12.88 and its 200 day moving average is $11.73. The firm has a market capitalization of $2.35 billion, a P/E ratio of -14.07 and a beta of 1.05. Alphatec Holdings, Inc. has a one year low of $4.88 and a one year high of $16.47.

Alphatec (NASDAQ:ATEC - Get Free Report) last released its earnings results on Thursday, July 31st. The medical technology company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.08. Alphatec had a negative net margin of 24.33% and a negative return on equity of 1,657.19%. The firm had revenue of $185.54 million during the quarter, compared to analysts' expectations of $178.85 million. During the same period in the prior year, the company earned ($0.29) EPS. The business's quarterly revenue was up 27.5% compared to the same quarter last year. Alphatec has set its FY 2025 guidance at EPS. On average, research analysts expect that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

Alphatec Company Profile

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders in the United States and internationally. It manufactures and sells implants and instruments through third-party suppliers. The company offers Alpha InformatiX product platform, including EOS imaging system that provides full-body imaging; VEA alignment mobile application, which leverages EOS technology to more quickly quantify alignment parameters on a mobile device; SafeOp Neural InformatiX System that automates electromyographic and somatosensory evoked potential monitoring; and Valence, an intra-operative system that integrates navigation and robotics into spine procedures, as well as Sigma Prone TransPsoas (PTP) Access and PTP Patient Positioning Systems.